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After participation in this course, students should be able to:
Describe how to post business transactions using T-accounts.
Describe how to prepare a trial balance.
Describe how to prepare income statements and balance sheets from the trial balance.
Describe and evaluate the annual report (Årsrapporten) - primarily the income statement, the balance sheet and the cash flow statement - referring to the Danish accounting law and the accounting theory.
Explain traditional costing and activity based costing referring to the direct costs and the indirect costs used in the financial statements.
Evaluate the relevance of direct costs and indirect costs in different decision-making situations.
Describe the standard system of management accounting text books for preparing an income statement budget, a balance sheet budget and a cash budget.
Analyse financial statements (return on equity, return on assets, profit ratio, equity to total assets, contribution ratio, assets turnover, debtor turnover ratio, inventory turnover ratio).
Apply index analyses and common size analyses.
The course introduces key concepts and topics in connection with financial statements. The students will learn to understand and analyze in particular the income statement, balance sheet and cash flow statement.
COURSE SUBJECT AREAS:
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Bookkeeping
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Financial accounting - its role
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Financial accounting - legislative framework
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Income statement and revenue recognition principle
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Fixed assets
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Inventory methods
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Debt and interest
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Treatment of tax
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Equity
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Investment in securities
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Consolidated financial statements
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Activities translated from foreign currency
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Cash flow statement
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Financial analysis
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Cost concepts
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Relevant information for marketing and production decisions
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Budgeting
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J.V. Lundberg
3 lectures and 3 exercise sessions per week in 14 weeks.
1. Steensen, S. et al. (Latest edition). Indledning til virksomhedsøkonomi. Trojka, 5th ed. h. 1 (pp. 9-16), Ch. 2 through 7 (107 pages)
Opgavesamling til Indledning til virksomhedsøkonomi (Latest edition). Trojka, 5th ed.
(Exercises only, not part of curriculum)
2. Christensen, J. & M. Nielsen (2009). Virksomhedens Årsregnskab. Except Ch. 2, 7 and 14 (approx. 262 pages)
3. Årsregnskabsloven, lovbekendtgørelse nr. 395 of 25.05.2009 (available on www.retsinfo.dk )
4. Årsregnskaber fra virksomheder (not part of curriculum)
5. Horngren, C.T., G.L. Sundem & W.O. Stratton (2002). Introduction to Management Accounting. Prentice Hall. Ch. 4 (29 pages)
6. Christensen, J. (2001). Omkostningsteori og regnskab. Syddansk Universitetsforlag. Ch. 3 (24 pages)
7. Garrison, R. et al. (2003). Management Accounting. McGraw-Hill. Ch. 12 (32 pages)
8. Schack, B. (2009). Regnskabsanalyse og virksomhedsbedømmelse. Ch. 1, 2, 3, 8 and 11 (approx. 145 pages)
Total curriculum approx. 625 pages
Material for the course, including items 5, 6 and 7 from the list, is sold in "Bogformidlingen".
4 hour written exam
EXAMINATION AIDS ALLOWED: If the exam requires it, a simple calculator will be provided.
